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  1. ITV Report

Welsh towns are being loaned almost £7.6m to revitalise their high streets

Credit: ITV News

The Welsh Government is spending further £7.595 million of Town Centre Loans to revitalise town centres across the country.

The £20m Town Centre Loans Fund aims to bring empty sites in Welsh high streets back into use.

The Welsh Government has said once the loans are repaid, the money will be used again to fund new loans.

The money will be spent on the following projects:

  • Gwynedd: £500,000 loan to extend the regeneration programme in Caernarfon and Bangor town centres, and to also extend the regeneration work into Bethesda;
  • Rhondda Cynon Taf: £975,000 to help redevelop buildings in Aberdare and Pontypridd town centres;
  • Swansea: £2,000,000 to regenerate sites across the city centre.

The Town Centre Loan Fund brings empty and derelict sites in town centres back into use. It supports activities that increase footfall on our high streets, tackle empty sites and help businesses to grow and prosper. Once loans are repaid, the money is used again to fund new loans.

– Rebecca Evans, Housing and Regeneration Minister